Economy

United States stocks open lower as bank shares slide

United States stocks open lower as bank shares slide

Major stock indexes in Europe fell broadly. "On the other hand, there's justified concerns of whether the disease is under control". Asian shares were mostly higher on Wednesday with another mood boos...

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Another 1.5 million Americans filed for unemployment last week

Another 1.5 million Americans filed for unemployment last week

The Labor Department's weekly jobless claims report ( pdf ) released June 25, shows that 1.48 million American workers filed initial jobless claims for the week ending June 20. He said that,"We are ...

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Audit: US sent $1.4B in virus relief payments to dead people

Audit: US sent $1.4B in virus relief payments to dead people

The Government Accountability Office (GAO) report , which looked at how the almost $3 trillion stimulus package was administered, said that the IRS typically uses third-party data such as death reco...

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Brazil Blocks Newly-Launched WhatsApp Payments Service

Brazil Blocks Newly-Launched WhatsApp Payments Service

Brazil's central bank has ordered Mastercard and Visa to suspend processing money transfers on behalf of Facebook's WhatsApp. The central bank said in a statement that rolling out the service...

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Amazon Pledges $2bn Venture Capital Fund To Invest In Clean Energy

Amazon Pledges $2bn Venture Capital Fund To Invest In Clean Energy

Amazon said the $2 billion is just a starting point; more could be added to the fund at a later date. The Climate Pledge was founded by Amazon in partnership with Global Optimism last year with...

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The IMF's forecast for the global economy goes from bad to worse

The IMF's forecast for the global economy goes from bad to worse

In an update to its World Economic Outlook, which was released on Wednesday, the International Monetary Fund said it expected the global economy to shrink 4.9 percent this year - a sharper contraction...

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Explained: Why diesel has become more expensive than petrol in Delhi

Explained: Why diesel has become more expensive than petrol in Delhi

The development came in the aftermath of a series of fuel price hikes oil retailers have undertaken for more than two weeks now, following an 82-day break during the lockdown. Petrol costs Rs 86.54 ...

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Wirecard files for insolvency after ex-CEO arrested in $2 billion scandal

Wirecard files for insolvency after ex-CEO arrested in $2 billion scandal

Wirecard is filing for insolvency, days after revealing a gaping €1.9 billion hole in its accounts. His lawyer could not be reached for comment and local police said they had received no information. ...

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Hell Freezes Over As Dodge Tops J.D. Power’s Initial Quality Study

Hell Freezes Over As Dodge Tops J.D. Power’s Initial Quality Study

Dodge is the first domestic brand to rank first in the 34-year-history of the IQS. For the first time in the survey's 34-year history an American manufacturer has claimed the top spot. In recent ye...

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NZ Authorities Seize $90M From Alleged Bitcoin Launderer Alexander Vinnik

NZ Authorities Seize $90M From Alleged Bitcoin Launderer Alexander Vinnik

NZ police authorities discovered a company with connections to Alexander Vinnik, which had an unusual amount of money in its accounts. In the last 11 months, the Asset Recovery Unit had restrained a...

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Canada loses AAA status at Fitch

Canada loses AAA status at Fitch

Canada had seen about 1.7 per cent annual growth leading up to the pandemic, but Fitch says the country's medium-term growth prospects are limited and below many of its peers. In point of fact, Canada...

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Donald Trump says China deal 'fully intact' despite Peter Navarro

Donald Trump says China deal 'fully intact' despite Peter Navarro

Earlier in the day, White House trade adviser Peter Navarro said "it's over", when asked about the China trade deal , accusing Beijing of sending "hundreds of thousands of people" to the United Sta...

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Central bank blocks WhatsApp payments in Brazil

Central bank blocks WhatsApp payments in Brazil

Cielo had sealed a deal with Facebook's WhatsApp, which has 120 million users in Brazil, to process the payments from the new service, a move that was expected to bolster the payments company's resu...

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Bayer reaches $10.5 billion settlement in Roundup cancer lawsuits

Bayer reaches $10.5 billion settlement in Roundup cancer lawsuits

The proposed settlement, which must first be approved by a Californian court, consists of a payment of between $8.8bn and $9.6bn to resolve the current legal action and $1.25bn for potential future li...

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Gold price hits 1-month high amid rising global Covid-19 cases

Gold price hits 1-month high amid rising global Covid-19 cases

What we really want you to focus on is the fact that Gold is rallying to levels above $1800 (near all-time highs) while the USA stock market has entered an upside parabolic price trend. In the week th...

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International Monetary Fund forecasts deeper global recession due to pandemic coronavirus

International Monetary Fund forecasts deeper global recession due to pandemic coronavirus

In China, the world's second-largest economy, growth this year is projected at one per cent. India's economy is expected to shrink 4.5 per cent after a longer period of lockdown and a slower recovery ...

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Australia calls military in after coronavirus surge

Australia calls military in after coronavirus surge

He spoke to reporters in Melbourne and mentioned how it takes the tally to almost 1,900 after recording 17 on Tuesday and 16 the day before. The Australian Defence Force will deploy 300 soldiers t...

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COVID-19: Some Hand Sanitizers Have Potentially Toxic Chemicals, FDA Warns

COVID-19: Some Hand Sanitizers Have Potentially Toxic Chemicals, FDA Warns

Anyone who has used these products on their hands is at risk. The FDA says that exposure to methanol-based hand sanitizer can cause side effects such as nausea, vomiting, blurred vision, permanent...

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Crude oil prices rise after Trump assurance on China trade deal

Crude oil prices rise after Trump assurance on China trade deal

Brent crude LCOc1 was down $0.24, or 0.6%, at $41.95 a barrel by 1141 GMT. The West Texas Intermediate (WTI) for July delivery saw an increase of 71 cents to end at a total of USD40.46 per barrel...

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Lollies to undergo name change because of offensive overtones

Lollies to undergo name change because of offensive overtones

Nestlé Australia has announced it will change the name of its Red Skins and Chicos lollies to remove "overtones which are out of step with Nestlé's values ". Red Skins and Chicos, which are sold in...

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Futures rebound after trade deal clarification

Futures in NY recovered most of its earlier losses after President Donald Trump said the trade deal with Beijing was "fully intact" following remarks from Trade Adviser Peter Navarro that were i...

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Virgin Galactic will help train astronauts for NASA

Virgin Galactic will help train astronauts for NASA

Virgin Galactic will essentially be operating a launch services business for private astronauts, similar to the one set up by Space Adventures , which has an agreement in place with SpaceX , and whi...

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Dow Jones opens slightly lower as virus cases mount

Dow Jones opens slightly lower as virus cases mount

Small company stocks, which have lagged the broader market's rebound that began in April, were doing better than the rest of the market Monday, pushing the Russell 2000 index 0.7% higher. The high-fly...

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Trump says he would only meet Venezuela's Maduro to discuss exit

Trump says he would only meet Venezuela's Maduro to discuss exit

The President's comments were widely interpreted as a sign of weakening USA support for Juan Guaido, the opposition leader who Washington and almost 60 other countries have backed in a power struggle ...

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RIL becomes first Indian company to be valued at $150 bn

RIL becomes first Indian company to be valued at $150 bn

This is even more remarkable that this was achieved amidst a global lockdown caused by the COVID-19 pandemic. The 63-year-old Indian business tycoon released an official statement on Friday confirmi...

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China Halts Some US Poultry Imports Amid Virus Fears

China Halts Some US Poultry Imports Amid Virus Fears

The announcement out of China on Sunday gave no details of the quantity of meat affected. Tyson Foods Inc. said on Friday that more than 13% of its employees in Arkansas have tested positive for COV...

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Airlines launch plan to reboot travel

Airlines launch plan to reboot travel

Qantas is offering triple points for frequent flyers on all routes, and customers of both airlines will also be given more flexibility to change flight dates without being hit with fees, the airlin...

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US Stock Market Overview - Stocks Close Mixed with Nasdaq Paces the Gains

US Stock Market Overview - Stocks Close Mixed with Nasdaq Paces the Gains

On the economic front, while housing starts increased at a slower-than-expected pace in May, building permits saw a more robust rebound and applications for loans to purchase homes surged last week to...

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U.S. halts test of Trump-touted hydroxychloroquine for COVID-19 patients - worldwide

U.S. halts test of Trump-touted hydroxychloroquine for COVID-19 patients - worldwide

The World Health Organization (WHO) has halted the hydroxychloroquine arm of its SOLIDARITY trial of potential coronavirus treatments - for the second time - following the failure of the drug to show ...

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Musk says 'tentative' date for Tesla shareholder meeting is Sept. 15

Musk says 'tentative' date for Tesla shareholder meeting is Sept. 15

Battery Day was at first slated to take place in late May possibly, but Musk tweeted that due to an anticipated lower attendance, Tesla was organizing to release a webcast for the occasion in June, ...

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Gold Hits One-month Peak as Rising Coronavirus Fears Boost Demand

Gold Hits One-month Peak as Rising Coronavirus Fears Boost Demand

Globally, gold jumped to its highest in more than a month on Monday as investors sought the safe-haven metal after surging coronavirus cases intensified concerns over a delay in global economic reco...

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Eskimo Pie latest brand to change name

Eskimo Pie latest brand to change name

Dreyer's Grand, a USA subsidiary of Froneri, follows in the footsteps of several major brands announcing product changes or reviews this week. Eskimo Pie will change the brand name and its marketing...

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Fintech Company Wirecard Failed Audit: Stocks Fall

Fintech Company Wirecard Failed Audit: Stocks Fall

Markus Braun's nearly two decades as Wirecard AG's chief executive officer ended after accusations about the company's accounting culminated in a shock disclosure that it was was unable to locate ...

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Petrol, diesel prices hiked for 16th consecutive day

With rates of auto fuels being raised for the 13th day in a row, price of diesel in Delhi crossed Rs 77/litre mark for the first time in history. When petrol and diesel pricing was deregulated in Apri...

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Face coverings: What does the law say?

Face coverings: What does the law say?

Transport Secretary Grant Shapps said that the use of face coverings would "offer some, albeit limited, protection" against the spread of coronavirus as passenger numbers increase with the further eas...

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